We’re kicking off the week by answering your questions! And if you have a question for us, we’d love for you to submit your own via howtomoney.com/ask/ , send us your voice memo!

  1. How should I go about negotiating rent at my apartment with my landlord?
  2. What steps should we take in protecting our baby’s social security number and identity?
  3. In regards to retirement, how should I be thinking about income replacement?
  4. What is the absolute best way to pay my credit cards off every month?
  5. As I’m approaching the Roth IRA income limit, should I still contribute even if I might be ineligible by the end of the year?
  • Everything you need to know about freezing your credit!
  • And when when you use your credit card in a responsible way, there are a host of benefits that you’ll be able to realize- we talked through a lot of these on our Cash, Debit, or Credit episode.
  • If you’re earning enough that you’re beginning to get phased out of being eligible to contribute to a Roth IRA, using this calculator by Fidelity is a great tool to know exactly how much you are able to contribute.
  • And if you’re interested in trying out the Dark Side of the Rainbow.

During this episode we enjoyed a Dark Side of the Strawberry Moon by Cherry Street Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

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2 comments on “Ask HTM: Negotiating Rent, Protecting a Baby’s SSN, & WTD with Ineligible Roth IRA Contributions – Episode 340

  1. jeff mccalla Apr 6, 2021

    Since 2017 (tax cuts and jobs act of 2017), you can’t recharacterize a roth ira to a traditional. Plus, roth ira and traditional ira are subject to the same income limits, so your answer was both incorrect and made no sense.

    • We may have used the wrong term- it is still possible to perform an IRA to Roth IRA conversion, but it is no longer an option to then recharacterize that Roth back to a traditional. And the ability to deduct contributions to a traditional depends on whether or not you/your spouse is covered by a workplace plan.